We manage to pay for NBFC registration services in Rajendra Nagar at affordable price and within a limited mature frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only settlement with registration or inclusion but we also offer after registration services at affordable prices that makes it simple for entities to start there proceed in a hassle clear manner.
WHAT IS A NBFC?
Non Banking Financial Company is just later bank, registered under Companies Act of India and having a valid license issued by the Reserve Bank of India. NBFCs are full of zip in the thing of loans, advances, accepting deposits, insurance, asset government and further financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot resign yourself to following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot accept demand deposits.
- NBFC cannot business cheque in its own name
- Depositors of NBFCs are not covered by depositors Insurance.
WHEN DOES A COMPANY BECOMES LIABLE TO APPLY FOR NBFC LICENSE?
A company is required to buy license for RBI for NBFC registration and no-one else if its principal event involves financial activities. In order to remove any obscurity the departments has clarified that for a company financial argument shall be considered as principal protest if:
- Financial Assets contribute 50% or more of the total assets
- And pension from financial assets contribute 50% or more of the total gross income.
This exam is popularly known as 50-50 test for NBFC.
COMPANIES INVOLVED IN FINANCIAL ACTIVITIES BUT ARE NOT LIABLE TO TAKE LICENSE OF NBFC FROM RBI:
Some companies lively in financial events are not required to apply for or obtain NBFC license form the Reserve Bank of India this is because of the fact that they are living thing governed by additional laws or enactments. Some of these companies are:
- NIDHI Company – Regulated by Companies Act, 2013
- Housing Finance Companies – Regulated by the National Housing Bank
- Mutual Funds – Regulated by Securities and Exchange Board of India
- Insurance Companies – Regulated by Insurance Regulatory and Development Authority of India (IRDA)
- Stock Broking – Regulated by Securities and Exchange Board of India
ELEGIBILITY CRITERIA FOR APPLYING FOR A NBFC LICENSE IN INDIA.
- The entity must be a company either Private Limited or Public Limited registered under Companies Act, 2013.
- Company if already on the go in financial sector must have certified 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.